Samsung’s Jay Y. Lee pardoned by South Korea, may reejoin board

Members of the media surround Jay Y. Lee, co-vice chairman of Samsung Electronics Co (centre) in front of the Seoul Central District Court in Seoul, South Korea, on Aug. 12, 2022. - Bloomberg

SEOUL (Bloomberg): Samsung Electronics Co. Vice Chairman Jay Y. Lee had his right to work at the company restored by South Korea, opening the way for him to formally take the helm of the country’s largest conglomerate roiled by global demand and supply shocks.

South Korean President Yoon Suk-Yeol on Friday (Aug 12) cleared the heir to the country’s biggest company of bribery charges, for which Lee spent 18 months in prison before his release on parole a year ago.